Accounting and Business Operational needs

We support your entire accountancy and business operational needs.

We provide organisations with a flexible solution to compliance, back office accounting and employee-related services whether in Jamaica or international. We can provide on-site teams to Jamaican businesses.
We deliver a global solution to international businesses who have operations across multiple jurisdictions who require local finance and payroll support in each country but managed by one provider.

Our suite of finance, accounting, tax, payroll and HR services is designed to overcome the obstacles associated with your international expansion, giving you peace of mind, knowing that we have made you compliant with all rules and regulations, with a first-class solution for all your day-to-day operational needs in territories that may not be familiar to you

Whether you are making your first hire in a new country or looking for a more streamlined way to manage your multiple international operations, we provide a tailored solution to meet your requirements, in your time zone and to your budget.

We can help with:

  • business registrations, registered office and company secretarial services
  • corporate structure advice
  • fully outsourced bookkeeping and accountancy
  • bank account management
  • management reporting
  • tax compliance returns
  • payroll, HR, reward
  • expatriate tax services
  • immigration and global mobility
  • year-end statutory financial statements and audit

For additional information email us at :info@crowehorwath.com.jm

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Jamaica:Payroll and HR Services

Crowe Horwath Jamaica offers fully managed payroll and HR solutions to businesses, designed to meet individual needs. Our tailored service is suitable for any organisation regardless of size.

Our services:

  • calculation of monthly/weekly payrolls
  • production of payroll reports bespoke to your business needs
  • production of payslips and  e-payslips
  • real time information submission
  • Construction Industry Payroll services
  • all payroll-related statutory year-end returns
  • HR services
  • continuous access to payroll expertise
  • ongoing compliance with latest legislation
  • International Mobility Services, including expatriate advice
  • international payroll services

For additional information email us at: info@crowehorwath.com.jm

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Why Strategic Planning Is Important Even For Small Businesses

Small business owners mistakenly believe that the size of their business negates the need for strategic planning but the opposite is actually true. Its inherent size is actually what makes strategic planning more important because it can be means for a small business to gradually evolve into a huge and thriving multinational corporation.

What Small Business Owners Need to Know about Strategic Planning

Planning is one of the five important functions of management, but it’s arguably the most important of all because it’s the first function that any manager or business owners should focus on. Planning sets the goals, mission-vision, and direction for the company. Without it, the other functions may be impossible to achieve.

A business can’t, however, benefit from just any kind of planning. It must be strategic in essence to be effective. Strategic planning is a methodical process of deciding where you want your company to be in a given time frame and what you propose to do to get there.

There are different ways to let your company benefit from strategic planning so don’t worry about following the so-called rules. Whatever works for your company is good enough.

Elements of Strategic Planning

Internal and External Assessment of Strategic Planning – A coach of a basketball team won’t be able to map out an effective play if it doesn’t know its players well, which team it will be playing against, and other related factors. The same can be said for any business manager. Before you can start working on the details of your strategic plan, you must first focus on compiling data about the external and internal environment of your company.

Outside your business, politico-legal, economic, and socio-cultural factors can affect how your business will fare in the next few years. Inside, factors such as management style and the type of workforce you have can also help or hinder your company from attaining your goal.

Setting Your Company’s Goals – Small or big, the important thing is for your business to have goals. If you’ can be satisfied with small and short-term goals then that’s good; if you secretly desire for bigger goals then that’s even better. To know if the goals you plan to work on are indeed workable, determine if they adhere to the SMART rule – specific, measurable, attainable, realistic, and time-bound.

Rule of Majority – Of course, as owner or manager of a business, you reserve your right to approve or naysay any suggestion but as much as possible, allow the rule of majority to stick. Plans can only come to fruition if everyone in the company works together and you can assure yourself of their cooperation by showing them that you care about what they think.

Devising an Action Plan – Finally, it’s time to concentrate on the nitty-gritty of your strategic plan. List down possible and specific courses of action then choose what all of you deem as most suitable. Make sure that you set a definite schedule or timetable for everything but give allowances for unexpected delays and concerns. Set a budget as well.

The Ever-So-Popular Plan B – Last but not the least, devise a Plan B in the event that your first plan doesn’t work and list down indications to know when’s the right time to put Plan B to action.

Good luck on strategic planning for your business! Contact us for support

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Winning at Business With Your Marketing Game Plan

Annette from Montego Bay had talked to a number of marketing firms and gotten estimates for designing and printing her marketing materials and building a web site for his business producing Swimwear. One firm quoted J$200,000 to build her web site alone. She sensed something was missing or wrong, but couldn’t put her finger on it, so he called me.

I asked Annette how the various marketing pieces and activities were going to work together to help her generate leads. I asked her what was the marketing strategy was. She drew a blank. The marketing firms he had talked to had provided detailed information on what they were going to produce for her, but none had discussed a coordinated plan to generate leads and sales.

Marketing without an integrated strategy is like playing poker, tennis or football without knowing the rules, keeping score or having a game plan. You could put in a lot of time, energy, and capital, and still end up losing the game. Has this happened to you?

Winning at business is the same as any other game, whether your objective is to beat the competition or just to be the best in your industry. To be successful, you need to know the rules of the game, have a clear strategy and track your progress.

The Rules for Winning at Marketing and Sales

Here are some of the most essential rules to follow to succeed at marketing your business.

1. Written goals are motivating and can help you succeed.

Define your objectives for revenue, lead generation and conversion rates for the year and then break those down for each quarter. Commit them to writing. Next list the weekly and daily tasks you and/or your employees need to accomplish in order to reach your goals.

2. The more qualified prospects you can attract, the more clients you’ll have.

A clearly defined lead generation strategy will bring in the new prospects you need to be profitable.

3. It’s easier to convert prospects to clients when they are looking to solve a problem. 

It’s much harder to convert people who don’t have a current need or concern, even if they are members of your target market. Instead of seeking prospects, prompt prospects to look for you.

4. You’ll get a better response from marketing messages that are focused on client problems and concerns, not on your credentials or descriptions of products and processes.

If you’re not getting the response you’d like from your mailings, ads or web site, take a second look at your marketing message. A few changes in your marketing copy can increase response by factors of ten or more.

5. Integrate your tactics and message across your marketing materials, ads, and web site to prompt people to seek you out and contact you.

Trying to generate leads without an integrated strategy is like playing football without a set of plays for the quarterback to use with the team. He’d end up throwing the ball only to find the receiver had gone the other direction or go for a field goal on the first down.

6. The purpose of having a web site is to generate leads.

Once you have a lead you can use it to generate sales. Once you get prospects to your web site or reading your marketing materials, make sure you prompt them to contact you.

7. Most sales are the result of a relationship based on your credibility and the value of your products or services.

Developing these relationships can take weeks or months to build. Your marketing strategy should facilitate this process of building relationships over time, with multiple opportunities for contacting prospects.

8. The easiest people to sell to are past customers. Prompt first time clients to buy from you again and again.

Keeping Score

In order to know if your marketing is working you need ways of keeping score. Which marketing results are you tracking?

Which additional ones should you define each month and quarter to track?

Keep track of these important ‘scores’ to evaluate your marketing:

1. How many prospects seek your firm out each month? Is this number growing each month by five to ten percent?

2. What percentage of people who are exposed to your ads, your web site and other marketing materials give you their contact information so you can stay in touch with them?

3. How many people are on your house list of qualified prospects? How fast is this list growing each month?

4. How many people buy from you each week? What is the dollar volume of each sale?

5. How many sales come from repeat customers?

Whether we’re talking poker, tennis, or marketing your small business, the objective is to improve your performance and succeed more often. When you have a game plan, know the rules and track your scores, you can continually find ways to improve your marketing and be more successful.

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A Marketing Strategy for Winners

A marketing strategy can either make or break your business. As you know, there are many different aspects to a good marketing strategy. You may be wondering which marketing strategy is right for you. Also, how do you know which marketing strategy really works? The best marketing strategy is the one that gains profits. In this article, we will discuss the various aspects of a great market strategy.

The first marketing strategy you should look into is your website. Make sure your web design is eye catching and easy to maneuver. A marketing strategy you can add to this is to have attractive pictures or illustrations that get your customers attention. This is always an important marketing strategy.

A second marketing strategy is to promote you product. Any marketing strategy will tell you to get yourself noticed. Different aspects of this marketing strategy are to send out flyers, business cards, post cards, etc.

A third marketing strategy is to use an autoresponder. This automated form of a marketing strategy is commonly used. Using an autoresponder to send out advertisements of your product is fast and convenient. Everything is done by email.

Another marketing strategy is to use a slogan or logo. This is a great marketing strategy because it is a way for people to easily remember your business. If they remember or recognize you, they are likely to use your website.

Another powerful marketing strategy is to use an SEO (search engine ptimization). Using this will attract more people to your sight. This is because when they do a search for a particular service or product, the SEO will make sure your site is listed at the top of the search results.

A very important marketing strategy is to have a great price for your products or services. This marketing strategy is an absolute must. If your prices are not great, you will never have any business. Try to show people why your prices are so great to entice them to make a purchase.

Finally, the last marketing strategy is to have good public relations. With good public relations, your business will prosper through word of mouth. Allow customers to submit feedback of your business. Place positive feedback and testimonials on your website. It makes your business look good and customers tend to prefer to use businesses that have positive feedback.

As you know, you want a marketing strategy that will not leave you with empty pockets. In reality, any marketing strategy is going to cost you a little bit of money. But if you look in the right places and follow some good advice, your marketing strategy should leave you coming out on top

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Courting the Millennials

Recruitment of top notch young talent who can enter your work force and provide that kind of long term growth potential that can only come from a smart and productive staff is always a challenge. One of the big reasons any business works to keep its public image high and to project the concept that they are an employer of choice is to recruit the best and the brightest from the youth ranks.

Young employees bring a lot to a business that can compliment an older work force and make the business much more vital. Younger employees are savvy to the wants and needs of their peers. So instead of trying to guess how to market to the current generation of 18-28 year olds who are the age segment with disposable income, by keeping such employees on staff, you have the inside track to the priorities of the current generation. Further youthful employees are often optimistic and out to change the world. Their sense of mission and belief in the system as a means to make the world a better place results not only in a better morale internally but in business philosophy that shares those values.

The tendency to name the upcoming generations can be a bit trite but it helps in knowing who the target group for recruitment are. And that group of youthful future employees that will be hitting the job market in the next few years has been dubbed “the millennials”. And despite the traumatizing events of world terrorism, war and the decay of the environment, the millennials come to you with that youthful enthusiasm and desire to make a big difference in the world that sets them apart from previous generations.

To lure the brightest minds coming from the nation’s colleges, some rethinking of what we put in front of these young people is in order. They are not leaving academia strictly with the objective of making a lot of money. So to turn the head of youth workers who can make a change for the better in your business…

  • Don’t just make the potential job about money or your recognizable business name. The reputation of the company can be as much a negative as it can be a positive. The millennial recruitee will look past the sign on the building at what the company is really all about.
  • The millennial is more internet savvy and wants to use modern technology to accomplish business goals. It’s in our best interest to facilitate that goal because it will keep us in touch with the marketplace.
  • Corporate culture is an important factor for both recruiting and retaining good employees from this generation. Millenials are looking for a business climate that is creative, able to change when new things become available, highly accessible upper management and responsive.
  • Corporate values mean a lot to the millennial crowd. That means that those high minded values printed on posters and plastered all over the Human Resource department have to actually mean something. By demonstrating that the business lives up to its ethics and values, that will appeal the idealistic side of youthful workers.
  • The values that the business supports must reflect a modern attitude toward diversity and “going green”. If you walk a millennial around the office during his or her interview, they will notice the recycling bins scattered about. They will notice the diversity of culture and race in the employee mix.
  • Be prepared to recruit from various disciplines. Even if you are recruiting for a financial services function or some other specialization, keep your mind open to recruiting students with a focus on liberal arts or teaching. These millennials can be trained to the specific job and they bring a fresh approach to the job description that comes from their college area of focus.

These are things that might take time to change if the corporate culture is behind the times. But it’s worth the effort to start now to attract the kinds of workers that mean long term growth for the company. By doing some serious analysis on how up to the date the business is, you can begin to affect change now so by this time next year, you will be in better shape to court the millennials.

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Five Steps To A Flawless Interview

Are you prepared for your next job interview? Do you know the secrets of pulling off a flawless interview and getting the job of your dreams? Use these five easy steps to prepare yourself and leave the best impression possible with the hiring manager.

1.Be Early – The worst thing you can do is show up to an interview late. What does that tell the hiring manager about your commitment level? Why would anyone want to hire a person who doesn’t have the organization skills to show up on time? By showing up early you are demonstrating and showing respect of the company and the hiring manager. You are also giving them the opportunity to take you early, which could give you more face time. Face time is important, the longer you have with the hiring manager the better your chances will be to get the job.

2.Research the Company – Never walk into an interview without knowing anything about the company. Do some research; find out how many facilities they have, who is the CEO, and what recent news has come out about the company. Look at the financials from their website or other investor news. Be prepared to ask some questions about what you have discovered. At the end of every interview that I have conducted, I always ask “Do you have any questions for me?” I am always impressed with people who have done their research and are serious about working for the company.

3.Listen, Don’t Talk – It may seem counter-intuitive, but get the hiring manager to do most of the talking. It is a proven fact, that hiring managers will think the interview go better if they do a lot of talking. So use your research and ask a lot of questions to get the interview talking.

4.Carry Copies of Your Resume – Hiring managers are busy people and many times they do not have a copy of your resume when they enter the room. Even if they do have a copy, a lot of the time, it will be a fax copy from the recruiter. This is the time to hand them your resume on a quality piece of paper. Resume paper is thicker and has a very good feel to it and that is what you want the interviewer to associate with you… a good feel. Later, when the hiring manager is reviewing your resume you will stand a better chance of getting the job or at least the second interview.

5.Follow-Up – After the interview, it is always a good idea to follow-up with the hiring manager is some shape, way, or form. If the interviewer gave you his/her card then make use of it. Call them and ask a few follow-up questions and thank them for taking the time to meet with you. If you didn’t get a card during the interview, then send a polite thank you letter. The goal here is to get the hiring manager to think of you again. And the more he/she thinks of you, in a positive manner, the better your chances are to get the job.

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